Retirement Review

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Retirement Review

• State of Florida
• Retirement Plans

UCF - Benefits Section
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Employer Sponsored Retirement Plans

• Florida Retirement System (FRS)
• Pension Plan
• Investment Plan
• Optional Retirement Program (ORP)

UCF - Benefits Section
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Employer Sponsored Retirement Plans
Florida Retirement System (FRS)

• Pension Plan
• 6 year vesting
• Monthly contributions are employer-paid and based
  on a percent of salary and FRS membership
  class-paid to a trust fund for all FRS members
• Defined Benefit - the benefit is based on a
  formula (years of service, age at retirement,
  average final compensation, and FRS membership
  class)

• Investment Plan
• 1 year vesting
• Monthly contributions of 9 are employer-paid to
  your account
• Defined Contribution - the benefit is based on
  your account value (contributions plus investment
  earnings less expenses and losses)

UCF - Benefits Section
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Employer Sponsored Retirement Plans
Optional Retirement Program (ORP)

• Eligible Employees
• AP and Faculty
• Defined Contribution
• Contribution Rate
• 10.42
• Immediate Vesting

• Investment Providers
• AIG VALIC
• ING Aetna Financial Services
• Jefferson National
• MetLife Investors
• TIAA-CREF

UCF - Benefits Section
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Voluntary Retirement Plans

• Tax Deferred Programs
• Employee-sponsored retirement options
• 403(B) Tax Deferred Annuities
• AIG VALIC, Jefferson National, Symetra, MetLife,
• ING Reliastar, TIAA-CREF, ING Aetna
• 403(B)(7) Mutual Funds
• Smith Barney, T. Rowe Price, Vanguard, Fidelity
• 457 Deferred Compensation Plans
• Call 1.877.299.8002

UCF - Benefits Section
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Retirement

• Retirement Resources
• UCF Benefits Section
• [phone]
• http//hr.ucf.edu
• Provider Contacts
• Comparison Charts
• Enrollment Information/Forms
• Florida Investment Plan
• [phone] (open 9am 8pm, EST)
  www.myfrs.com

UCF - Benefits Section